Daily Pivots: (S1) 0.9280; (P) 0.9327; (R1) 0.9356; More….
Intraday bias in USD/CHF remains neutral at this point. On the downside, break of 0.9259, and sustained trading below 55 day EMA (now at 0.9261), will extend the fall from 0.9459 to 0.9149 support. On the upside, above 0.9380 minor resistance will bring retest of 0.9459 instead.
In the bigger picture, medium term outlook will be neutral at best as long as 0.9471 resistance holds. Larger down trend could still extend through 0.8756 (2021 low). However, firm break of 0.9471 will argue that whole down trend form 1.0342 (2016 high), has completed with waves down to 0.8756. A medium term up trend should be set up to target 1.0237/0342 resistance zone.
